Melbourne's Queen Victoria Market is getting a major facelift.
Sonya Kilkenny, the Planning Minister, has today announced the approval for a massive $1.7 billion project that’s set to give our beloved Queen Victoria Market a whole new vibe.
They’re planning to build 560 swanky apartments for rent, and 15% of them will be affordable housing. Plus, Scape, a student housing company, will be adding another 1100 beds for uni students. That’s a big win for anyone looking for a place to crash in the city.
Queen Victoria Market’s Revamp
- The $1.7 billion Queen Victoria Market development project has just been approved
- It will build 560 new apartments with 15% affordable housing and 1100 new beds for university students
- It will also revitalize the public spaces around the market and build a new park
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Teaming up with Lendlease and the City of Melbourne, this project aims to turn the market into a buzzing urban hotspot that’ll attract a bunch of new folks – from residents and workers to tourists.
This whole shebang lines up perfectly with the Labor Government’s goal of adding 800,000 new homes over the next decade. They want these homes to be in spots where people actually want to live – close to work, transport and all the good stuff.
But wait, there’s more! Along with the new digs, they’re sprucing up the area by restoring the open spaces, bike lanes and cool shops along Franklin Street, as well as creating a massive 1.8-hectare park called Market Square.
Of course, they’re keeping an eye on the market’s history too. The institution has been around since 1878, so they’re making sure to preserve its unique charm while giving it a modern twist. Heritage rules are in place to make sure the market’s soul stays intact.
“Gurrowa Place will become home to thousands of new residents, attract more market customers and boost business for traders – while unlocking one of the largest open spaces in the CBD,” says Lord Mayor Sally Capp.
For more information on the development project at the Queen Victoria Market, head here.
